Is it complicated to run an innovative company, or to hire a team of marketing experts that get your name out there?
The answer is easy: neither! In fact, if you ask leaders, they consider marketing and innovation as a pair of gears that work together to move your entrepreneurial success engine forward. Preferably, innovation works itself into the totality of your business culture, and as a result, it moves out into your product marketing strategy.
According to Lameen Witter, there needs to be a strong network between innovation and marketing.
2. Marketing &
InnovationLAMEEN WITTER
Is it complicated to run an innovative company, or to hire a team of marketing experts that get
your name out there?
The answer is easy: neither! In fact, if you ask leaders, they consider marketing and innovation as
a pair of gears that work together to move your entrepreneurial success engine forward.
Preferably, innovation works itself into the totality of your business culture, and as a result, it
moves out into your product marketing strategy.
According to Lameen Witter, there needs to be a strong network between innovation and
marketing.
3. THE GROWTH FACTORMarketing &
Innovation
According to experts, modern-day marketing includes any
activity that gets and keeps customers. However,
according to the traditional view, marketing is specific to
advertising or sales. Basically, marketing extends to
influence customer service and what's needed for the
business to continue creating an advantage and benefit
for the customer.
The Growth Factor helps you to answer the question:
"What can I do today to offer my clients a greater
advantage or benefit, to get them closer to the actual
result they desire?"
And the answer is the collaboration of both marketing
and innovation team. The marketing team is on the front
of what's working, what's not and what's needed, while
the innovation teamwork inside and provide ideas and
possible solutions.
4. DEVELOP A MINIMUMVIABLE
PRODUCT
Marketing &
Innovation
If you build a product, a consumer may come – at least with a little push from your marketing department, who
spent time ensuring the product visibility. Many times businesses get stuck thinking that customers "will" come
to new innovations and jump right in head first with a complete rollout.
Sure, you’ve developed a brilliant idea, but a great idea alone does not bring customers.
Before spending too much cash, the best approach is to develop your minimum viable product (MVP),
introduced it in the market, and build a network between the innovators, marketers and buyers around further
development and innovation based on the future possibilities.
Marketers and innovators must collaborate to bring this to market to test, twist and refine the product based
on response and feedback. The minute the product is identified as having a probable chance of success, a wider
rollout is vital.
5. CULTIVATE AN INNOVATION CULTURE
Marketing &
Innovation
Regardless of the size, your business is, you must not ignore both
marketing and innovation. Furthermore, if we take an example of
Apple, it has proven that real innovation is about positive gains --
not world-changing discoveries. Therefore, take your MVP into the
market without taking much time and start generating sales.
Every business needs both innovation and marketing to succeed in
the industry. The ultimate aim of innovation in business is to
provide customers with the best possible products, services and
experiences -- which makes the marketing process a much simpler
task.
6. FinalThought
Lameen Witter says innovation and
marketing are a perfect match. To lead
the industry you need to take
advantage of both marketing and
innovation. No business can bring
incremental results without only
innovation or marketing. Both are
essential!